Last Done: RM3.28
Immediate Resistance – RM3.40 Level!
The stock faces with its immediate resistance at RM3.40 (2-year high), provided the above mentioned level can be taken out, the stock will only head towards RM4.00 level. I am expecting minor retracement to set in as a lot of technical indicators are reaching its peak with the support is seen at RM3.00 level.
The immediate support is seen at RM3.00, followed by RM2.70 and the immediate resistance is seen at RM3.40, followed by RM3.50 level.
FKLI
Downside Bias…
The market is expected to resume its huge volatility for these 2 weeks and the political front remains uncertainty at this moment.
Risk averse investors should not hold any position for overnight and any position initiation should couple with tight stop loss.
Risk taker investors can initiate short position, especially any level near to 1800 with stop loss level around 1820 level.
The immediate support is seen at 1750, followed by 1720 level and the immediate resistance is seen at 1780, followed by 1800 level.
FCPO
Immediate Important Support – 2200 Level…
Nothing has changed since yesterday as the downtrend line currently located at the 2260 level, forcing the FCPO to trade within the range of 2300 to 2200 levels. The FCPO will need to take over the 2300 level convincingly, else, the long term downward trading will resume. 2200 level remains as a level to initiate long position with stop loss level being 20 points away.
The immediate important support is seen at 2215 level, followed by 2200 and the immediate resistance is seen at 2300 level, followed by 2400 level.
Disclaimer:
The information herein was obtained or derived from the source that I believed are reliable. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute my judgment as of this date, not an invitation to buy and are subject to change without further notice.
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